https://www.taxtmi.com/caselaws?id=281478 Continuation of foreign exchange adjudication after an unexplained delay of about 27 to 28 years was impermissible. The Bombay HC held that, although no limitation period was prescribed, statutory powers must still be exercised within a reasonable time; otherwise the proceedings become stale and arbitrary. Because the notices related to alleged acts from 1958, 1966 and 1970, the matter had remained inactive for decades, no satisfactory explanation for the delay was given, and missing records would prejudice the petitioners, the Court quashed the belated proceedings and allowed the petition. en-us Mon, 18 Jan 2010 00:00:00 +0530 Thu, 20 Jun 2019 15:50:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=281478 Continuation of foreign exchange adjudication after an unexplained delay of about 27 to 28 years was impermissible. The Bombay HC held that, although no limitation period was prescribed, statutory powers must still be exercised within a reasonable time; otherwise the proceedings become stale and arbitrary. Because the notices related to alleged acts from 1958, 1966 and 1970, the matter had remained inactive for decades, no satisfactory explanation for the delay was given, and missing records would prejudice the petitioners, the Court quashed the belated proceedings and allowed the petition. Case-Laws FEMA Mon, 18 Jan 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=281478